LOANS AND ADVANCES

The Bank has carefully designed the loan schemes to meet divergent financialneeds of various segments of society and the repayment schedules aretailored to suit their income streams. Our Personal Banking Loan Schemes viz.SyndSaral, SyndSuvidha, SyndVahan, SyndKisan, SyndMortgage aim to fulfilthe individual financial needs like purchase of consumer durables, vehicles orany other genuine credit requirements. The students pursuing higher educationare provided credit under our SyndVidya scheme. The agriculturists,professionals, salaried class, executives, traders, pensioners, defencepersonnel, industrialists can meet their financial needs through various creditschemes of the Bank. SyndNivas meets the aspirations of the public to own ahouse. Loan products are designed to provide credit against security/pledgeof gold ornaments, NSC, KVP, LIC Policies, GOI Bonds, shares of public listedcompanies, units of UTI and against rents receivable etc. also. The temporaryfinancial needs of pensioners and people drawing salary through ourbranches are met through SyndOverline and temporary overdrafts in SBaccounts.

The agriculturists can fulfil their investment needs through our agri-financialschemes for crop production, land development, minor irrigation, alliedactivities, plantation, hi-tech agriculture etc. The Syndicate Kisan Credit Card(SKCC) and Syndicate Kisan Samrudhi Credit Card (SKSCC) are products foragriculturists proposed to meet their needs for crop production, alliedactivities, repairs to machinery and consumption. The schemes likeSyndLaghuUdyami, SyndVyapar, SyndSwarna, SyndPigmy, SyndRent,SyndUdyog are devised to meet the credit needs of entrepreneurs, artisans,traders, Professional & Self-employed, SME Sector, business units,manufacturing units and service entities. The Bank is lending under variousschemes for upliftment of the poor and the downtrodden. The Bank is alsoinvolved in identifying and arranging training to the unemployed youththrough banks jointly sponsored institutes like RUDSETI, SIRD etc. andproviding credit for self-employment activity/venture. The Bank has rolled outproducts to meet every genuine credit requirement of individuals, institutions,corporates etc. and put in place hassle-free procedures and provides all thenecessary information including all costs to the public/customers. In recognitionof the financial empowerment of women, the bank has launched the productSyndMahila to extend credit facilities to women without regular income. Theproduct SyndPravasi is launched to grant Rupee loans to NRI Customers. Thebank has also entered into a tie-up arrangement with insurance companies toprovide insurance cover to the beneficiaries of SyndNivas (housing loan) atprescribed premium.

The bank is also well in tune with the demands of modern banking withspecialisation in Foreign Exchange, Export Credit, Industrial Finance, HousingFinance and Treasury Operations. SYNDICATE BANK HOME LOAN PROCESS STEP BY STEPSearching for the best home loan is as important as searching for a dreamhome. You might find the best home loan lender, but the process involvesmany steps. You have to be patient and careful while dealing with theprocess. Though applying online has become very easy, reaching thedisbursal stage is no cake-walk. If you had chosen a nationalized bank, youhave to be even more careful in following each and every step.Here is the step by step procedure for your SYNDICATE BANK home loandisbursal.1) Collecting the Property related Documents2) Legal Opinion3) Property Valuation4) E-stamping5) Submitting the Application6) Documentation7) Disbursement1. Collecting the Property Related Documents: Firstly, go to the builder andget all the property related legal documents. Get the Legal opinion andShare of agreement and Sanctioned Site plan from the builder.2. Legal Opinion: Go to an Advocate who is in the SYNDICATE BANK Panelwith the documents in step 1 to get it verified. For the advocate to give thefinal legal opinion he needs to see the Sales Agreement & ConstructionAgreement and he needs a photostat copy of it.Normally if its a builder share following documents need to be collected fromthe builder:a. Encumbrance certificate till current date (from some 35 years advocatemay ask)b. Tax Paid receipt till date. Lawyer might ask you for multiple documents, sothe maximum delay is expected at this step. Once this step is done, half partis done.3. Property Valuation: Once the Legal valuation is done, go to a propertyValuator who is in the SYNDICATE BANK Panel with the sales agreement.He valuates the property and gives a letter.4. E-stamping: SYNDICATE BANK mandatess the Sales agreement andConstruction agreement to be estamped/Franked. Regarding whats the valueto which e-stamp, do concern the branch staff. Normally for a ongoingconstruction flat, there are 2 Agreements a)sales Agreement and b)Construction Agreement. E-stamping and franking are actually the same, e-stamping is the new technology where as franking is the old one where westamp it, Franking can be done only at register office where as e-stampingcan be done at post offices, Syndicate banks, Selected registrar offices, etc.Note: Make sure you, your wife and builder sign on the e-stamp which youpurchase.5. Submitting the Application: Once you get the valuator statement andLegal opinion, go to the SYNDICATE BANK with the filled in application formsalong with the required documents for loan application. Also attach the legalopinion and the Valuator statement.Note: Its always good to go for a interiors loan (max up to 3 lakhs) alongwith the home loan, which might save you the hidden charges when combined.For the interiors loan you need to get a quote from an interior designer andget it valuator sanctioned.6. Waiting period: Now its time for the waiting period. The waiting periodmay vary from person to person. Normally in the special home loan branch, itcan be as fast as 3 days. Periodically call them to ensure that the process isgoing forward. Also make sure they inspect the property, because unless anduntil they inspect, you can’t reach the disbursal stage.7. Documentation: Once the loan is sanctioned, you get a call from the bankfor documentation. Carry all the original documents which you have submittedwhile applying for the loan.Loan applicant along with guarantor needs to be present at the bank for thedocumentation. Builder is normally not required, if its a land lord share, then itis a must for him too to attend.8. Disbursement:Once we get the Loan Sanction letter go to the builder and get the followingdocuments1. NOC from the builder stating he hasn’t mortgaged this property to anyother bank2. Tripartite agreement [This is required only if its a ongoing construction.3. Demand Note from the builder[how much money he needs for theparticular construction stage].Note: Please make sure whatever demand note they make is matching withthe schedule of payment.9. If it is an under-construction property, for partial disbursements and forfurther payments you can just send a mail to the manager to please disbursethe amount XXX and then ask the builder to send a boy to the SYNDICATEBANK branch with the original demand note and they can collect the DD fromthe bank directly. You need not go to bank anymore.10. Registration: Now its time for registration and the final payment to bemade to the builder. You need a DD for Registartion Stamp duty in the nameof Sub-registrar and a DD for Mortgage Stamp duty in the name of Sub-registrarConclusion: Send an SYNDICATE BANK Postal mail form after registrationsaying you had submitted all the registered documents to SYNDICATE BANK.The above process needs a lot of care and patience. More than anything, itneeds your valuable time, planning and energy.